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Luxury retailer Louis Vuitton buys world’s second-largest rough diamond

Luxury retailer Louis Vuitton has snapped up the second-largest rough diamond in history as its owner stakes a bigger claim in the high-end jewelry market. The French fashion house bought the 1,758-carat “Sewelô” diamond in a deal announced this week with mining company Lucara, which unearthed the massive gem in Botswana in April. The arrangement will turn the Sewelô “into a collection of fine jewelry that will commemorate this extraordinary discovery and contribute direct benefits to our local communities of interest in Botswana,” Lucara CEO Eira Thomas said in a Wednesday statement. The diamond will be cut and polished through a partnership with the HB Company, an Antwerp diamond manufacturer, Lucara said in a news releas ...